The Great Aluminum War altered merchant banking by turning mergers and acquisitions into a high-profile, high-profit business. Once again it lost branches and assets to the war's victors. Shanghai Jinjia Network Technology Co., Ltd. Company profile page for Dresdner Kleinwort Capital Inc including stock price, company news, press releases, executives, board members, and contact information Privacy Policy, Roth, Terence, "Deutsche Bank, Dresdner Push into East Germany,", ------, "1992: West German Banks Rushing to Diversify in Anticipation of Barrier-Free Europe,", Rhoads, Christopher, and Erik Portanger, "Two Big German Banks Scramble in Wake of Aborted Megamerger,". A global cross-border investment bank providing M&A, capital raise and corporate finance advisory services, Direct presence in the US, the UK, and India, and banking partnerships worldwide, Completed transactions in the US, the UK, Continental Europe, the Middle East, Japan, and India, Specializes in the Technology and Consumer Sectors, Senior bankers with global M&A experience over many years. Most recently at Dresdner Bank, he was a Director in the Institutional Restructuring division, where he was responsible for the sale of NPL portfolios and non-core holdings. Prior to this, he was the EVP and head of the Product Engineering Services division managing worldwide sales and delivery and was also the CEO of GDA Technologies which was acquired by L&T. In September 2000, Dresdner opted to beef up its investment banking operations again, when it acquired Wasserstein Perella, a New York investment bank that had played an advisory role in the merger of Time Warner, Inc. and America Online, Inc. Wasserstein gave Dresdner a stronger presence in the United States, as well as a boost in its American mergers and acquisitions business. Ostensibly socialists, the Nazis were inclined to completely nationalize all the German banks under the absolute power of the Third Reich. Jonathan Agnew, who succeeded Michael Hawkes as chief executive of the Kleinwort Benson Group in 1989, staked the firm to the prospect of becoming an integrated investment bank based on the conviction that a strong securities business would help market the products generated by the bank's other activities. It managed the reprivatisation of British Aerospace, the first of the British Government's programme of disposals in 1981. The deal made Kleinwort Benson the first foreign bank to own a government securities firm that dealt directly with the Federal Reserve Bank of New York. In addition, Kleinwort Benson's Australian banking and securities operations were sold to Security Pacific in October 1989. Dresdner then united its assets-management operations into one unit: Dresdner Kleinwort Benson, which boasted 8,000 employees and was one of Germany's largest fund managers. [27] Then in March 2009 it became clear that the office in Japan would close. This stifled the basic expansionist impulse of the bank and cut off investment revenue. Anne began her financial services career at Dresdner Kleinwort Wasserstein. Ms. Judy Ye is the Managing Partner of YiMei Capital. Four years entrepreneurship experience gave Henry very solid training in starting up company, including team building, fund raising, operation & governance, product development, sales & marketing. The domination of the big banks had long fostered a populist resentment, which the Nazis carefully exploited. learn how over 7,000 companies got started! Henry Hu holds a Master Degree of Computer Science from Columbia University and a BS in Physics from Peking University. Anne has worked in private equity since 2004 most recently as CFO at Cap10 Partners. As Dresdner had always been a huge success in international business and its partner had long shown a genius for domestic banking, the alliance was a natural one, and the standings of both firms increased greatly as they shared profits and policies. ", "The Oxford Dictionary of National Biography", "Brief History of Sharps Pixley as London Bullion Market Member", "The Privatization of UK Oil Assets 1977-87: Rational Policy-Making, International Changes and Domestic Constraints", "Harrod's new owner: Mohamed Al-Fayed; a quiet acquisitor is caught in the crossfire", "Kleinwort lifts payout after turnaround: 'Good feeling of confidence' running through bank, reports chairman", "Dresdner Bank Bids $1.5 Billion For Kleinwort", Yuganskneftegaz appraisal close to completion, $1.4bn sex discrimination law suit targets Dresdner Kleinwort Waserstein, Commerzbank to Close Dresdner Kleinwort U.K. M&A Unit, Dresdner Kleinwort to cut most Japan staff, Dresdner is sued by three more bankers over bonuses, Commerzbank sued for $49m over banker bonuses, Dresdner sued for millions in with held bonuses by 72 former traders, Commerzbank drops Dresdner Kleinwort Benson, "RHJ International to Acquire Kleinwort Benson From Commerzbank", "RHJ wins Chinese backing to buy Deutsche's BHF unit", "Kleinwort Benson tax compliance business bought by Saffron Tax Partners", "IFA buys book of 1,000 Kleinwort clients in RDR clear-out", "RHJ International: Extraordinary Shareholder's Meeting Update", "Oddo completes capital raising ahead of BHF Kleinwort Benson buy", "City of London Member details Sir Alan Colin Drake Yarrow (Alderman)", "A High-Powered Deal Maker Is Named to Lead Lazard", "The chief executive of the London Stock Exchange is stepping down next year", "Luke Johnson: from Pizza Express to Patisserie Valerie", https://en.wikipedia.org/w/index.php?title=Kleinwort_Benson&oldid=1138621296, This page was last edited on 10 February 2023, at 17:31. They needed foreign capital coming in to pay the interest. Subscribe to our newsletter Receive daily news updates directly in your inbox. This was due largely to the capital loans that Dresdner and the other leading banks made to new and developing German industries. He worked on the prop desk for 11 years, moving up to the position of Director, trading convertible bonds, credit default swaps, corporate bonds, and various other derivatives. Our team is comprised of experienced professionals with backgrounds in investment banking, consulting, operations, technology, and research. The firm moved to London in 1852 and gradually began to specialize in investment banking. He was the top ranked sell-side analyst for several years before leaving for Switzerland.He is a graduate of Strathclyde University and the London School of Economics. He is Chairman of the Fine Art Group Ltd in London, a specialist art investment, advisory and credit products platform. The German debt problem continued to dog Kleinwort after the outbreak of war in 1939. Isaac has held several positions in various companies, most recently as the Chief Strategy Officer of L&T Technology Services. 2022 Langham Capital. Steve has more than 25 years of rich experience in real estate & sport, especially in areas of real estate development, investment, M&A, change management. The Ikarus Capital team has collectively more than 25 years of experience in financial advisory services in the renewables, clean tech, and utilities sector. Washington, DC 20549- 1000 Attn: Ms. Nancy M. Morris, Secretary Telephone +1 212 969 2700 w.dresdnerkleinwort.com ViaElectronic Mail This bank crisis necessitated federal involvement: in 1931 the German government took over 90 percent of Dresdner. Mr. Wright was educated at Oxford University (M.A.) In anticipation of monetary union in 1990 (which preceded political union by a year), East Germany revamped its entire banking system, spinning off its state central bank's retail operations into a new unit called Deutsche Kreditbank. In 1965, Kleinwort Benson entered the oil and gas business when its subsidiary Kleinwort Benson Energy began drilling on the continental shelf. He also focused on restructuring investments in small-to-medium sized German telecommunications companies for Dresdner Kleinwort Capital, the private equity arm of Dresdner . The trend towards consolidation in the European banking industry continued in the late 1990s and early in the new century. Shiv is responsible for managing all aspects of the firm's activities including origination and executing transactions, client relationship management and financial management. Citing the "silent financing" of the German war effort through loans, as well as direct links of the kind previously noted, the Liquidation Commission decided to restructure Dresdner Bank into 11 small banks, each of which could operate only within its own zone of occupation. Head of Renewable Energy, Head of Utilities Debt Origination, and Senior Project and Acquisition Finance Director at Dresdner Kleinwort. With its place in the securities industry somewhat uncertain, the future of Agnew's vision of Kleinwort Benson as a fully integrated investment bank appeared equally up in the air. Dresdner Kleinwort Capital is a London-based investment banking firm providing brokerage services for financial and investment products. Kleinwort's profitable activities in precious metals and foreign currency trading during this decade helped offset these fiascos. By investing into new business models and social enterprises, NE aims to provide capital and know-how to such enterprises while generating long-term investment returns which meet both social impact metrics as well as financial benchmarks. Moving to the US with PwC in 1992, he was a senior partner in M&A. Dresdner was not exempt. The role of the big banks in Germany was closely related to developing industries and expanding commercial opportunities. Contact: Beverley Hunt, Partner Email this Investor. In his first year in charge, earnings rose 18 percent and assets 8 percent, to DM 189 billion. Kleinwort could trace its roots to 1838, when a Hamburg shipping clerk named Alexander Kleinwort immigrated to Cuba and joined a Havana trading company run by James Drake. Privacy Policy, Astbury, Kate, "Allianz Still Half in Love,", "Finance and Economics: Death of a Deal,", "For Better, For Worse; Allianz and Dresdner Bank,", Hobday, Nicola, "Whither Dresdner Kleinwort Wasserstein,", Jenkins, Patrick, "DrKW Aims to Recapture Past Glory,", Kerr, Ian, "Can Kleinwort Elude the Vultures,", Merrell, Caroline, "Allianz Signals Disposal of DKW,", Stevenson, Richard W., "Dresdner Will Pay $1.6 Billion for Kleinwort Benson,", "Wasserstein's Acquisition Completed by Dresdner,". The company's fortunes took a tumble once again in the early 1990s due in part to its attempts to diversify its holdings. Contact. In 1929, the economy's volume of business was 50 percent greater than it was before the war. In May 1988, Dresdner bought a majority interest in Thornton & Company, a leading British asset-management company, to strengthen its presence in that country and also in Asia, where Thornton had a strong position. The Wasserstein name was dropped in July 2006 when the. In 2001, Dresdner Bank acquired Wasserstein Perella & Co. and folded it into Dresdner Kleinwort's operations. They merged in 1961 to create Kleinwort Benson Lonsdale, later Kleinwort Benson. [13] It also managed the flotation of Cable & Wireless in the same year. The firm provides mergers and acquisitions, strategic alliances, equity and debt underwriting, sales and trading, derivatives, equity research, and valuation services. Our familiarity with cross border deal structures helps focus on the most effective options to maximise value creation for our clients. In the year after the crash, Dresdner was able to buy another of the major Berlin banks, Darmstadter, making Dresdner for a time the largest bank in Germany. Isaac runs the Information Technology practice at Langham Capital. Structuring: Within the commercial framework of a transaction, a wide range of financing and structuring options are possible. Deutsche Bank wanted Dresdner to jettison its investment banking arm, Dresdner Kleinwort Benson; Dresdner refused, making itself "a takeover candidate more than ever," according to the April 10, 2000, Wall Street Journal. We offer cross-border mergers & acquisitions, debt & equity capital raising, and corporate finance advisory services in the Technology and Consumer sectors. Traditionally, merchant bankers had to live with uncertainty as an inherent fact of business life. In 1990, Dresdner inked a deal with Deutsche Kreditbank that gave the West German firm control over 72 Kreditbank retail branches and a 49 percent stake in the outfit, which was named Dresdner Bank Kreditbank AG. By 1977, Kleinwort Benson had become involved in unit and investment trusts, factoring, leasing, insurance brokering, venture capital, tax planning, executor and trustee services, property development, commodity dealing, and bullion brokering and dealing, among other services. The strategy proved to be both costly and damaging to its reputation in the industry. Dresdner Kleinwort Capital appeared to be the VC, which was created in 2001. Langham will evaluate the deal and provide a valuation range using variables from both macro and micro levels. Phone Number +49 69 740987 Dresdner Kleinwort advise clients, provide financing and supply liquidity. Hans Friderichs, a former economics minister, was Ponto's eventual replacement. Christopher Wright is Chairman and a co-founder of EMAlternatives LLC in Washington DC and of its former affiliate in China, Yimei Capital Ltd, and is also a director of Merifin Capital Group, a private European investment firm.